China Automotive Systems (NASDAQ:CAAS) Shares Pass Above 200 Day Moving Average - Here's Why

China Automotive Systems, Inc. (NASDAQ:CAAS - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $4.14 and traded as high as $4.41. China Automotive Systems shares last traded at $4.08, with a volume of 293,354 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded China Automotive Systems from a "hold" rating to a "buy" rating in a research report on Monday, May 19th.

China Automotive Systems Stock Down 1.4%

The firm has a market cap of $123.09 million, a P/E ratio of 4.25 and a beta of 2.51. The business has a fifty day moving average of $4.14 and a 200 day moving average of $4.14.

China Automotive Systems (NASDAQ:CAAS - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The auto parts company reported $0.24 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 7.33% and a net margin of 4.25%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of China Automotive Systems by 22.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,586 shares of the auto parts company's stock worth $437,000 after purchasing an additional 19,484 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of China Automotive Systems by 4.8% during the 4th quarter. Renaissance Technologies LLC now owns 420,994 shares of the auto parts company's stock worth $1,726,000 after purchasing an additional 19,100 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of China Automotive Systems during the 4th quarter worth about $86,000. Bridgeway Capital Management LLC boosted its position in shares of China Automotive Systems by 2.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 280,206 shares of the auto parts company's stock worth $1,149,000 after purchasing an additional 7,119 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of China Automotive Systems during the 1st quarter worth about $57,000. 5.17% of the stock is currently owned by institutional investors and hedge funds.

About China Automotive Systems

China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.

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